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How much is capital gains tax in Canada?—and other questions answered

– moneysense.ca

The 2024 federal budget proposed changes to how capital gains are taxed for Canadians. Certain taxpayers will now be subject to a two-thirds inclusion rate instead of one-half on part or all of their capital gains.

The capital gains inclusion rate refers to how much of a capital gain is included in your income for tax purposes. Since 2000, only one-half of a capital gain has been taxable. In that year, the inclusion rate decreased twice from three-quarters to two-thirds to one-half.

What is a capital gain?
A capital gain is the increase in value on any asset or security since the time it was purchased, and it is “realized” when the asset or security is sold. (Similarly, a capital loss is realized when you sell an asset that has decreased in value since the time of purchase.) Capital gains (or losses) can happen on stocks, mutual funds and real estate.

Read the full definition from the MoneySense Glossary: What are capital gains?

Who is affected by the new capital gains rules?

Taxpayers affected include:

Individuals with an annual capital gain of more than $250,000

All corporations…

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